Global Dollar Network Debuts With Backing From Robinhood, Galaxy Digital, Others

Some of the leading crypto firms have formally formed an alliance aiming to encourage digital asset users worldwide to adopt stablecoin. Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, Nuvei, and Paxos joined forces to launch a new stablecoin known as the USDG, or the Global Dollar Network., helping the integration of stablecoin in everyday financial transactions.

A New Stablecoin Network

The partnership between Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, Nuvei, and Paxos gave birth to the open network named the Global Dollar Network.

According to their joint statement, the new network was created to accelerate stablecoin’s worldwide usage. These leaders in their respective industries, united by one goal, will pool their resources and utilize their expertise to push for a wider adoption of the coin, making it a more global digital currency.

The consortium urged other firms, custodians, payment tools, crypto exchanges, and other platforms to become part of the newly formed stablecoin network so they can work together to innovate global money.

USDG, a new US-dollar denominated stablecoin is finally here, and I couldn’t be more excited about @Anchorage Digital’s role.

As an initial partner, we’re making sure institutions have everything they need to confidently engage with USDG. Read More